Tetra Technologies, Inc. (NYSE:TTI) reached a new 52-week low on Tuesday . The company traded as low as $2.45 and last traded at $2.44, with a volume of 536,080 shares traded. The stock had previously closed at $2.50.
TTI has been the topic of a number of research reports. Morgan Stanley lowered their price target on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Zacks Investment Research cut Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Royal Bank Of Canada reiterated a “hold” rating and set a $3.25 target price on shares of Tetra Technologies in a report on Thursday, July 20th. Finally, BidaskClub cut Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $5.67.
The firm’s market cap is $224.84 million. The stock has a 50 day moving average of $2.58 and a 200-day moving average of $3.46.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.03. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The business had revenue of $208.37 million during the quarter, compared to analyst estimates of $204.19 million. During the same period in the previous year, the firm posted ($0.15) EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities analysts expect that Tetra Technologies, Inc. will post ($0.19) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its stake in Tetra Technologies by 23.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 5,030 shares during the last quarter. Mason Street Advisors LLC raised its stake in Tetra Technologies by 7.8% in the first quarter. Mason Street Advisors LLC now owns 27,039 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,961 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in Tetra Technologies during the second quarter valued at about $118,000. Karp Capital Management Corp acquired a new stake in Tetra Technologies during the first quarter valued at about $121,000. Finally, Gotham Asset Management LLC acquired a new stake in Tetra Technologies during the first quarter valued at about $128,000. 93.26% of the stock is owned by institutional investors and hedge funds.
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Tetra Technologies Company Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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